MRC Global (NYSE:MRC) Issues Earnings Results

MRC Global (NYSE:MRC) announced its earnings results on Tuesday. The oil and gas company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03, Briefing.com reports. MRC Global had a return on equity of 22.35% and a net margin of 3.19%. The company had revenue of $797.00 million during the quarter, compared to the consensus estimate of $794.17 million. During the same period last year, the firm earned $0.32 earnings per share. The company’s revenue was down 10.2% on a year-over-year basis.

MRC Global Stock Down 4.2 %

NYSE MRC traded down $0.61 on Thursday, hitting $13.83. 1,434,891 shares of the stock traded hands, compared to its average volume of 587,690. The company has a current ratio of 2.08, a quick ratio of 1.10 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average of $12.51 and a 200 day moving average of $12.75. MRC Global has a twelve month low of $9.77 and a twelve month high of $14.91. The company has a market capitalization of $1.18 billion, a P/E ratio of 15.42 and a beta of 1.97.

Analysts Set New Price Targets

MRC has been the subject of a number of analyst reports. Stifel Nicolaus increased their price target on MRC Global from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. StockNews.com upgraded MRC Global from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Finally, Susquehanna lifted their price target on shares of MRC Global from $16.00 to $17.00 and gave the stock a “positive” rating in a research note on Thursday.

MRC Global Company Profile

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services in the United States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components; and valve modification services, including valve control extensions, welding, hydrotesting, painting, coating, x-raying, and actuation assembly.